Crisis takes the shirt off your back

03 November, 2008, 11:34

When the credit crunch bites it's most visible in commerce and industry but it's also hitting the arts. Whether it's the world of film or fashion the Russian cultural scene is also now feeling the pinch. However,the financial slump is not only about money, for some it means a new beginning.

The clothes in designer Lada Kalinina should be hanging off glamorous models on the catwalks of Russian Fashion Week, but instead her boutique collection by has been left hanging on the rails.

After spending the best part of a year getting ready for her designer debut, Lada's sponsor was forced to pull out at the last minute because of the financial crisis.

“I am extremely disappointed. It’s very important for a designer to make an appearance at Russian Fashion Week because it’s a promotion of your brand and if you participate regularly you become stronger professionally,.” she says.

However, Lada isn’t too downhearted. She says she’s determined to see the financial crisis through and hopefully make an impact when the fashion week returns next year.

And it’s not just the fashion world that’s been feeling the wrath of the credit crunch.

Russia’s film industry has also been hit hard. Mosfilm, one of the largest and oldest film studios in Russia, is cutting its production by 20 per cent.

Vladimir Ryasov, Deputy General Director of Mosfilm explained:

“Some films have been stalled at a certain stage and one big project we had to abandon. The main reason for cutting these projects is lack of finances. We’re not planning any lay-offs or pay cuts but it is hard to say what will happen in the future.”

The future might be a bit bleak and uncertain for the Moscow art scene but that hasn't put off some people getting involved. Indeed, the financial crisis has encouraged some Muscovites to make some drastic and interesting life changes.

Take Sveta Sokolova. A few weeks ago, the 28-year-old was a senior in corporate finance, earning a minimum of $US 4,000 a month and fast on her way to the top of her profession. But when the crisis took hold, she decided things had to change.

So she turned her back on banking, swapping number crunching for something more liberating. Whereas, previously, figures provided Sveta with her livelihood, now it’s her figure that does so – Sveta now works as a model for ‘life’ painting.

Her working day now earns her about $US 4 an hour, but she says the money isn’t what matters.

“I worked hard, I sat in the office for about 12 hours a day. I have savings, so I can afford it”, she says.

Sveta says friends and colleagues were shocked at her sudden career change, but also envious that she's escaped the hostile and hectic working environment.

And for Sveta that was the most important thing. So thanks to the crisis she can sit pretty and  realise her true naked ambition.